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Tuesday Morning Business Brief

October 16, 2012, 5:52 AM

Tuesday Morning Business Brief

The Dow on Monday staged its biggest gain in over a month, rising 95 points to 13,424. The S&P 500 added nearly 12 points to close at 1,440, while the Nasdaq composite index rose 20 points to close at 3,064. Futures trading suggest a higher opening today.

  • International stock markets rose today, buoyed by better data on the U.S. economy and a report showing improving investor confidence in Germany. Benchmark crude oil rose to near $92 per barrel. The dollar fell against the euro but gained against the yen.
  • The Labor Department this morning releases the September Consumer Price Index. Also, the Federal Reserve provides an update on industrial production for September, while the National Association of Home Builders reports its gauge of builder sentiment.
  • California's first-in-the-nation mandate requiring petroleum refiners and ethanol producers to make cleaner fuels for use in the state faces an important court test today. At issue before the 9th U.S. Circuit Court of Appeals is the constitutionality of the law. Out-of-state oil refiners and biofuels producers claim it will give an unfair advantage to in-state fuels producers.
  • Amazon.com says it's hiring 50,000 temporary workers at order-fulfillment centers across the U.S. this holiday season. The Seattle-based online retailer says it expects "thousands" of those it hires to stay on full time. Full-time workers get stock grants and benefits. The company says its full-time employees make 30 percent more than traditional retail employees.

You can find the latest local business news on the Back to Business page of KELOLAND.com.

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